LAKEWOOD, WA
4 risk indicators measuring financial stability and operational resilience
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Sign In — Free (10 views/day)CREDIT UNIONS IN THE STATE OF WASHINGTON DBA AMERICAN LAKE CREDIT UNION, founded in 1948, is a community nonprofit that reported $3.2M in total revenue in fiscal year 2023. Revenue surged 28% from the prior year, signaling strong growth momentum. Expenses of $3.1M left a modest 4% surplus.
AMERICAN LAKE CREDIT UNION IS A PROACTIVE FINANCIAL COOPERATIVE DEDICATED TO HELPING MEMBERS IMPROVE THEIR FINANCIAL WELL BEING BY PROVIDING QUALITY SERVICES AT LOW COST AND ENCOURAGING THRIFT.
THE CREDIT UNION PROVIDED LOW COST RETAIL FINANCIAL SERVICES TO OVER 5,373 MEMBER/OWNERS THROUGH FOUR BRANCHES LOCATED IN TACOMA AND LAKEWOOD. SERVICES INCLUDE SAVINGS AND DEPOSIT ACCOUNTS, CONSUMER...
THE CREDIT UNION PROVIDED LOW COST RETAIL FINANCIAL SERVICES TO OVER 5,373 MEMBER/OWNERS THROUGH FOUR BRANCHES LOCATED IN TACOMA AND LAKEWOOD. SERVICES INCLUDE SAVINGS AND DEPOSIT ACCOUNTS, CONSUMER, MORTGAGE, AND CREDIT CARD LOANS. THE CREDIT UNION GRANTED 1,223 LOANS TO MEMBERS AMOUNTING TO $14,871,341 IN 2023.
Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency
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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)
Sign In — Free (10 views/day)| 2023 | 2022 | Change | |
|---|---|---|---|
| Revenue | $3,185,652 | $2,484,694 | +0.3% |
| Expenses | $3,070,215 | $2,683,112 | +0.1% |
| Net Income | $115,437 | $-198,418 | -1.6% |
Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics
Financial Distress Indicator
Liquidity & Cash Position
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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics
Sign In| Name | Title | Hours/Week | Role | Reportable Comp | Other Comp | Total |
|---|---|---|---|---|---|---|
| KOLIN MCMANN | CEO | 55.00 |
Officer
|
$210,385 | $17,211 | $227,596 |
| GLEN DAVOCOL | VP OPERATIONS | 55.00 |
Officer
|
$110,171 | $31,501 | $141,672 |
| CHERYL BEESON | VP ADMIN | 55.00 |
Officer
|
$93,924 | $19,329 | $113,253 |
| ROBERT DERMANN | Secretary | 1.00 |
Director
|
$0 | $0 | $0 |
| ROGER ERICKSON | Treasurer | 1.00 |
Director
|
$0 | $0 | $0 |
| BRIAN HAGEL | Director | 1.00 |
Director
|
$0 | $0 | $0 |
| DONALD HAM | Director | 1.00 |
Director
|
$0 | $0 | $0 |
| DONALD HOFFMAN | Director | 1.00 |
Director
|
$0 | $0 | $0 |
| CONNIE HYNDMAN | Director | 1.00 |
Director
|
$0 | $0 | $0 |
| DEIDRA MCLAUCHAN | Director | 1.00 |
Director
|
$0 | $0 | $0 |
| GLEN NEAL | VICE CHAIR | 1.00 |
Director
|
$0 | $0 | $0 |
| WILLIAM DISBROW | Chairman | 1.00 |
Director
|
$0 | $0 | $0 |
| MARLENE GRANTHAM | Director | 1.00 |
Director
|
$0 | $0 | $0 |
| Year | Revenue | Expenses | Assets | Net Income |
|---|---|---|---|---|
| 2024 | No data | No data | No data | No data |
| 2023 | $3,185,652 | $3,070,215 | $64,344,364 | $115,437 |
| 2022 | $2,484,694 | $2,683,112 | $70,051,462 | $-198,418 |
| 2021 | $2,831,758 | $2,573,758 | $72,320,270 | $258,000 |
| 2020 | $3,247,107 | $2,861,372 | $68,754,541 | $385,735 |
| 2019 | $3,201,535 | $3,173,338 | $66,838,755 | $28,197 |
| 2018 | $3,093,397 | $3,258,289 | $68,572,315 | $-164,892 |
Compare CREDIT UNIONS IN THE STATE OF WASHINGTON DBA AMERICAN LAKE CREDIT UNION with other nonprofits in Washington and across the country.